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Issuing Bonds Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. issued $63,500,000 of 15-year, 796 bonds

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Issuing Bonds Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. issued $63,500,000 of 15-year, 796 bonds on March 1 at their face amount, with Interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Illustrate the effects on the accounts and financial statements of recording the following selected transactions for the current year. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Round your answers to the nearest dollar Mar. 1. Issued the bonds for cash at their face amount Balance Sheet Statement of Income Assets Liabilities + Stockholders' Equity Cash Flows Statement Cash Bonds payable+ No effect Mar. 1 63,500,000 63,500,000 Mar. 1. Statement of Cash Flows Income Statement Financing 63,500,000 No effec 0 Sept. 1. Paid the interest on the bonds. Balance Sheet Statement of Cash Income Assets Liabilities +Stockholders' Equity Flows Statement Sept. 1 Sept. 1 Statement of Cash Flows Income Statement Dec. 31. Recorded accrued interest for four months Balance Sheet Statement of Cash Income Assets Liabilities +Stockholders' Equityy Flows Statement Dec. 31 Dec. 31. Statement of Cash Flows Income Statement

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